Kenya: AP Moller-Maersk Reports Rise in Profit

Nairobi — Danish shipping giant AP Moller-Maersk reported a rise in profit in the first quarter despite making a loss in the container shipping operation, which was hit by high bunker and restructuring costs.

The line recorded a 31 per cent increase in revenue to $14.44 billion, mainly due to higher oil prices as well as higher freight rates and volumes. Net profit for the period was $1,050 million compared to $390m in the same period last year.

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